JERUSALEM (Jul. 4)
The Negev Phosphates Company and Fertilizers and Chemicals, Ltd., are to be merged under a decision taken by the Israeli Cabinet, it was announced here today.
Half of the shares in the new company will be taken over by the American Investors Corporation, headed by Sam Rothberg, which originally had an option to acquire 80 percent of the Fertilizers and Chemicals firm. An agreement on the merger was reached two weeks ago between the two companies and the Ministry of Development.